The market is tightening once again strongly with the government: although there are no serious shocks so far, banks have become demanding and have forced the authorities to ratify a further 50% rise in interest rates.
Before the interest rate rises, the exchange rate fell 44 cents on the wholesale market this Friday, at 39.22 pesos. And he dropped 24 cents on the windows of banks, where he had an average of 40.30 pesos for sale.
As every working day, the Central Bank conducted a 7-day auction called Leliq Letters (Leliq), which tried to pull off the street to cool consumption – and the economy in general – to bring inflation down.
The interest rate has fallen at a fast pace since the beginning of the year. But on Thursday, February 15, there was a joint: Indec confirmed that inflation in January was 2.9%, higher than expected by the market.
In the past few days, private consultants had already warned that inflation was rising and will close in February higher than in January.
Thus, demand for dollars was reactivated by investors and private savers, since – according to official data – it declined by 37% in January and companies that are net sellers to gain a parasite that would allow them to cope with the crisis.
On Friday, the Central Bank issued letters of 166.694 million with a maximum rate of 50.4998%, while the average court was 49.521%, according to market sources.
This is an increase of 5.6 percentage points on the benchmark interest rate from the minimum recorded on 14 February last.